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Saturday, June 19, 2021

Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock is rising in pre-market, Why is this happening?

Torchlight energy resources Inc. (NASDAQ: TRCH) is up 9.56% in pre-market trading on Friday. The stock had shown a rise of 20.35% in the last trading session. The company deals with high-growth oil and gas exploration and production and is based in Plano, Texas. The main aim of the company is the development and acquisition of domestic oil fields.


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Recent developments

The company has recently announced that they are invited to participate in the 33rd Annual Roth Conference happening on 15-17 March 2021. Yet the company is experiencing gains in its stock after the announcement of this event since many institutional investors, private equity investors, VCs, and executives, and service providers are expected to attend this conference.  Alongside Torch energy resources, Metamaterial which is a company known for developing high-performance functional materials and nanocomposite products is also invited to this conference.

Also a while ago, on January 25 2021 Torchlight Energy managed to clear its debts and regain compliance with NASDAQ Exchange listing requirements. The company had been facing crises and its stock’s bid price was below $1 level in late 2020, and if any company’s stock declines to this crucial point, the NASDAQ exchange de-list that stock. But fortunately, the company held back its stock and ran it up in January when it hit the target of $2.

In February 2021, Torchlight energy share prices crossed $4 but this did not sustain for a long time when the stock price again decline to $2.14 on March, 5.

Conclusion

The rise and fall in the stock of Torchlight Energy have been observed after they regained their position in NASDAQ. The investors will definitely show their interest in TRCH stock since the company is out of loss and fear of being de-listed from NASDAQ. TRCH stock is expected to rise again to the $4 level in next time around.

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